Euro-Area Businesses Add Jobs as Region’s Recovery Takes Hold
(Bloomberg) -- Euro-area businesses stepped up hiring during the second quarter when pandemic restrictions started to ease and the economy returned to growth.
Employment increased by 0.5% in the three months through June after declining 0.2%. The economy expanded by 2% in the same period, matching an initial estimate.
The region’s economic outlook has vastly improved in recent months, after a winter of strict lockdowns gave way to a revival of business activity. Nearly two thirds of adults in the European Union are now fully vaccinated, boosting hopes that rising infections caused by coronavirus variants won’t lead to major curbs on activity.
The 19-nation euro economy is expected to expand by 4.7% in 2021, according to a Bloomberg survey of economists published on Monday. Italy and Spain are set to record the fastest growth rates in more than four decades.
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